The GBPJPY pair lost the positive momentum after stochastic attempt to exit the overbought areas, to rebound bearishly from 161.00 level and settles near 159.90, while the current rebound is considered as a threat to the continuation of the correctional bullish track due to the stability of the additional support at 158.70.
Therefore, we will keep waiting to gain the positive momentum soon to manage to form strong positive waves and surpass 161.00 level, waiting to achieve the next target at 162.20.
Therefore, we will keep waiting to gain the positive momentum soon to manage to form strong positive waves and surpass 161.00 level, waiting to achieve the next target at 162.20.
Trade closed manually:
The GBPJPY is forced to decline
The GBPJPY pair faced strong negative pressures due to stochastic crawl below 50 level, to force it to crawl below the initial support at 158.60, suffering many losses by reaching 156.70.
The continuous negative pressures confirm surrendering to the domination of the bearish bias, to expect suffering additional losses that might extend towards 156.10 followed by reaching 154.50.
The GBPJPY pair faced strong negative pressures due to stochastic crawl below 50 level, to force it to crawl below the initial support at 158.60, suffering many losses by reaching 156.70.
The continuous negative pressures confirm surrendering to the domination of the bearish bias, to expect suffering additional losses that might extend towards 156.10 followed by reaching 154.50.